Last checked at 30 Nov 2020 07:00
Baillie Gifford European Growth Trust plc
Legal Entity Identifier: 213800QNN9EHZ4SC1R12
Regulated Information Classification: Additional regulated information required to be disclosed under applicable law
Baillie Gifford European Growth Trust plc raises €30m of long-term debt
Baillie Gifford European Growth Trust plc announces that it has agreed to issue €30 million of long-term, fixed rate, senior, unsecured privately placed notes providing the Company with long-term financing at a very attractive rate.
The new privately placed notes are being issued in one tranche: €30 million with a fixed coupon of 1.57% to be repaid 8 December 2040. The coupon will be payable semi-annually. The funding date is 8 December 2020.
In order to facilitate the additional borrowings, the Board has agreed to cap any drawings from The Northern Trust Company overdraft facility at €15 million. The aggregated €45 million of available borrowings provides scope for invested borrowing to go to 8.5% of shareholders' funds as at 27 November 2020.
Baillie Gifford & Co Limited
Managers and Secretaries
30 November 2020